Infill Thinking Lifting the O&G knowledge curve
So far in the upcycle, the well cost inflation discussion has largely focused on hydraulic fracturing pricing (both HHP / stage pricing and consumables). Rightly so, as leading edge price per stage has essentially doubled year-over-year.
Prices for surface casing and tubing (collectively OCTG) are rising cyclically as well and the market is tight, although this segment’s inflation has been as widely publicized. As inventory is drawn down, mills are now responding to positive price signals by increasing utilization. The capacity ramp up to this point has been slow, but it could increase in a market share battle following a long-awaited trade ruling.
We break down the trade case in detail, describing what it means for OCTG suppliers and the operators who purchase surface casing and tubulars. We also weigh the decision against market expectations and discuss how the price implications will be digested and what could happen to supplies of this essential oilfield consumable.
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